Sky-high rand diamond prices as Ekapa acquires De Beers' Kimberley Mines

The established Kimberley-based surface diamond mining company Ekapa is acquiring control of the Kimberley Mines from De Beers at a time of sky-high diamond prices in local currency terms. Already enjoying a healthy margin of profit in mining Kimberley tailings for the past 25 years, Ekapa’s greatest "blessing in disguise" on the day of the announcement is the towering R1 330/ct that the assumed transaction price of $95/ct becomes in rands.